CML Microsystems Plc has announced its unaudited results for the six months ended 30 September 2023. The company reported a 5% increase in revenue to £10.58m compared to the same period last year. Profit from operations, excluding external costs related to the MwT acquisition, increased by 9% to £1.90m. Diluted EPS decreased to 9.31p due to a higher tax charge. The company's cash balances at the end of the period were £20.95m, a reduction of £1.31m after spending on share buybacks and dividend payments. CML Microsystems also announced a recommended half-year dividend of 5p per share.

The company successfully completed the acquisition of MwT on 2 October 2023, expanding its product portfolio and complementing its existing R&D capabilities. CML Microsystems is increasing its presence in new and emerging growth sectors to drive further growth. The company has also made changes to its board and senior management, with the appointment of Mark McCabe as Chief Operating Officer, Michelle Jones as Director of Finance, and the upcoming addition of Nathan Zommer as Non-Executive Director.

Chris Gurry, Managing Director of CML Microsystems, commented on the results, stating that the company's sustained revenue growth during the period, despite macroeconomic headwinds, validates its strategy and highlights the resilience of the business. Gurry also expressed confidence in the company's future growth prospects and the value it delivers to shareholders.

CML Microsystems develops mixed-signal, RF, and microwave semiconductors for global communications markets. The company targets sub-segments within the communication markets with strong growth profiles and high barriers to entry. It has a diverse customer base and is cash-generative, debt-free, and dividend-paying. The acquisition of MwT is expected to further enhance the company's position in the market and capitalize on new opportunities.